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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
Assets    
Cash and due from banks $ 79,169 $ 59,308
Time deposits in other financial institutions 350 250
Cash and cash equivalents 79,519 59,558
Equity securities at fair value (Note 2) 2,896 2,851
Securities available for sale (Note 2) 574,787 339,579
Federal Home Loan Bank stock 3,824 3,524
Federal Reserve Bank stock 4,180 2,934
Loans held for sale 12,921 3,095
Loans to other financial institutions 35,209 51,048
Loans (Note 3) 1,069,668 802,048
Allowance for loan losses (Note 3) (7,593) (4,057)
Loans, net 1,062,075 797,991
Premises and equipment, net (Note 5) 29,489 24,265
Other real estate owned, net (Note 7) 266 929
Cash value of life insurance policies 32,751 31,979
Goodwill (Note 6) 60,506 52,870
Core deposit intangible (Note 6) 5,269 6,006
Other assets 15,650 9,499
Total assets 1,919,342 1,386,128
Liabilities    
Deposits – noninterest-bearing (Note 8) 477,654 287,460
Deposits – interest-bearing (Note 8) 1,196,924 867,142
Total deposits 1,674,578 1,154,602
Borrowings (Note 9) 9,327 33,198
Subordinated debentures (Note 10) 3,089 0
Other liabilities (Notes 11 and 13) 5,080 6,189
Total liabilities 1,692,074 1,193,989
Shareholders' Equity    
Preferred stock; shares authorized: 100,000; shares outstanding: none 0 0
Common stock and paid-in capital, no par value; shares authorized: 12,000,000; shares outstanding: 7,796,352 at December 31, 2020 and 7,245,088 at December 31, 2019 (Note 14) 178,750 162,610
Retained earnings 37,490 28,051
Accumulated other comprehensive income, net 11,028 1,478
Total shareholders’ equity 227,268 192,139
Total liabilities and shareholders’ equity $ 1,919,342 $ 1,386,128